Mellon Enterprise Cash Management Introduces New Online Wholesale Lockbox Setup Forms
01 March 2005 - 11:50PM
PR Newswire (US)
Mellon Enterprise Cash Management Introduces New Online Wholesale
Lockbox Setup Forms PITTSBURGH, March 1 /PRNewswire-FirstCall/ --
Mellon Enterprise Cash Management today announced that its private
label customers can now establish Wholesale Lockbox services via
the Web, enabling faster and easier service with less
administrative effort. Available via EnternetBank(R) --
Enterprise's Web-based information reporting and transaction
initiation service -- the Web forms simplify the process by
allowing banks to set up their business clients with Wholesale
Lockbox services using advanced request- tracking features and
system intelligence designed to minimize errors. With the adoption
of wholesale lockbox services by small businesses and middle market
companies on the rise, more banks are looking for easier and cost
effective ways to expand or introduce treasury capabilities to meet
their business customers' needs. Outsourcing through Mellon
Enterprise's private- label wholesale lockbox service enables banks
to add a strong fee-based revenue stream without making significant
investments in technology and infrastructure. Enterprise recently
completed a successful pilot of the Web Wholesale Lockbox setup
forms with several customers. "The introduction of this online
capability is indicative of Mellon's ongoing effort to enhance our
private- label capabilities," said Robert W. Stasik, executive vice
president and head of Mellon Global Cash Management (GCM). "We want
to make it easy for our bank customers to do business with us and,
in turn, streamline our bank customers' processes." EnternetBank
automatically edits each form as it is completed and submitted,
determining if additional information is needed or if required
fields were left blank. A built-in help feature provides assistance
in completing the forms. An Enterprise implementation specialist
reviews the form online and either sends back an approval for the
client's records or returns an unapproved form for editing and
resubmission. Current plans include introducing online setup forms
for disbursement services in the first half of 2005 and continuing
to convert all of Enterprise's setup forms to an online version
throughout the year. Enterprise offers access to Mellon's
nationwide lockbox network with operations in seven strategically
located processing sites: Atlanta, Boston, Chicago, Dallas, Los
Angeles, Philadelphia and Pittsburgh. Because the network provides
uniform operational procedures, consistent processing methods and
standard processing hardware and software, bank customers can
expect the same high quality service no matter which lockbox sites
they choose. Enterprise also offers an "EZLockbox" service for
customers for whom float and availability are not primary concerns.
Mellon Global Cash Management (GCM) provides a full range of cash
management outsourcing solutions to small, mid-sized and large
financial institutions through its Enterprise business unit.
Available services include wholesale and retail lockbox, controlled
disbursement, positive pay, account reconciliation, data exchange,
electronic cash management information reporting, wire transfer and
ACH origination. Banks that private label/outsource cash management
services can realize the benefits of significant fee-based
revenues, while avoiding considerable capital investments. Mellon
Global Cash Management, a payments industry leader synonymous with
quality performance and known for its innovation and expertise,
designs comprehensive solutions through its broad line of cash
management services to meet the specialized treasury needs of
corporations, nonprofit organizations and financial institutions.
Recently, an independently administered customer satisfaction
survey revealed that Mellon GCM continues to distinguish itself
from its competition in the areas of operating quality, commitment
to cash management and customer service. In addition, Mellon GCM
was one of only two providers to achieve an A+ average for product
performance in the 2004 Phoenix-Hecht(R) Quality Index(TM) of 33
major cash management providers. Throughout 2005, Mellon GCM is
celebrating its 50th anniversary in remittance processing. In
addition, Mellon GCM is the only electronic payments services
provider in the U.S. to successfully complete both a Level 3
Capability Maturity Model(R) (CMM(R)) assessment for its software
engineering practices and attain ISO 9001:2000 Registration. More
information on Mellon GCM is available at http://www.mellon.com/gcm
. Mellon Financial Corporation is a global financial services
company. Headquartered in Pittsburgh, Mellon is one of the world's
leading providers of financial services for institutions,
corporations and high net worth individuals, providing
institutional asset management, mutual funds, private wealth
management, asset servicing, human resources and investor
solutions, and treasury services. Mellon has more than $4.0
trillion in assets under management, administration or custody,
including $707 billion under management. Its asset management
companies include The Dreyfus Corporation and U.K.-based Newton
Investment Management Limited. News and other information about
Mellon is available at http://www.mellon.com/ . DATASOURCE: Mellon
Financial Corporation CONTACT: Ron Gruendl, Corporate Affairs of
Mellon Financial Corporation, +1-412-234-7157, or Web site:
http://www.mellon.com/ http://www.mellon.com/gcm
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